Greg Davies: Focus on the spirit of risk regulation
Assessing suitability
Greg Davies: "When it comes to assessing suitability, the message you send about what is being invested in is less important than the one the client receives.”
A focus on the spirit rather than the letter of the law should ensure regulatory requirements are met as a side-effect of following processes designed for other purposes, argues Greg Davies
The spirit of financial advisory regulations is clear: to protect clients from bad investments, from unscrupulous salesmen, and from themselves. They aim to increase a client's comfort and confidence with...
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